https://www.taxtmi.com/caselaws?id=80140 Declared import value for stainless steel tubes/pipes was rejected where the goods were found to be high nickel alloy tubes and the price was unrealistically below comparable international imports. Customs valuation was therefore re-determined on the basis of comparable goods and raw-material plus manufacturing cost, and that valuation was sustained. Misdeclaration of the nature and value of the goods, together with breach of import licence conditions, justified confiscation and penal consequences under the Customs Act. The findings of contravention were upheld, but the redemption fine and penalty were reduced as excessive. en-us Thu, 21 Apr 1988 00:00:00 +0530 Wed, 15 Jun 2011 10:42:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=80140 Declared import value for stainless steel tubes/pipes was rejected where the goods were found to be high nickel alloy tubes and the price was unrealistically below comparable international imports. Customs valuation was therefore re-determined on the basis of comparable goods and raw-material plus manufacturing cost, and that valuation was sustained. Misdeclaration of the nature and value of the goods, together with breach of import licence conditions, justified confiscation and penal consequences under the Customs Act. The findings of contravention were upheld, but the redemption fine and penalty were reduced as excessive. Case-Laws Customs Thu, 21 Apr 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=80140